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to shrink as it struggled to manage a food safety scare in china. remember i made that joke about cats. we'll leave that alone. also, toyota now raising its annual profit guidance banking on stronger sales in the u.s. market and a boochtd from a weaker yen. but the automaker says it will not build any new factories in three years despite product. >> why don't we take a look at markets this morning. yesterday, the markets had their worst performance in 2013. the dow was down by about 129 points. that is less than 1%. s&p was off about 1 is.1%. and the nasdaq was off by about 1.5%. this morning, we do see some green arrows indicating that at least at the open, if things continue at the pace they are at right now, you will see some gains for the stock market, a bounceback after the dow fell back below 14,000 yesterday. take a look at oil price these morning. right now, you'll see that wti crude is up by about 47 cents. that's about 0.5%. 96.64. the ten-year note, which kwled yesterday was once again yielding around 2%, at this point, the yield is back at 1 of 989%, sitting right at that cusp
. >>> hacking america, a secret military unit is said to be behind a series of attacks, but our friend, china, denying the reports. and countering it was the victim of u.s. hacking. >>> and the bulls are back from a three-day weekend. can the s&p 500 post an eighth straight week of gains? we've got four days to find out. it's tuesday, february 19th, 2013. "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin who is back from vacation. let's get started with the markets. as joe mentioned, the s&p winning streak has been a strong one. in the meantime, the dow is coming off a second straight weekly loss. although, really, if you looked at this last week, it was the ever so slightest of losses. u.s. equity futures are indicated higher. dow up by 21 points. s&p is up by two points above value fair and the nasdaq is up about 3. in 20 minutes, we'll turn to predictions on where the markets go from here. then in the next hour, delivering alpo. we'll talk to the manager of a $11.5 billion hedge fun
expressing outrage. meantime, china is calling for calm. >>> the state of the union, president obama set to deliver an address to congress tonight. and stocks getting a slow start to the week. the s&p falling for a fifth straight monday. today is tuesday, anyway, february 12th, 2013. and "squawk box" begins right now. >>> asian markets shrugging off the tests in north korea. but markets in china, taiwan remain closed. north korea says a miniaturize ed nuclear missile was tested. the u.s. ambassador to south korea responding to all of this. >> it's a very provocative act that undermines regional peace and stability and i think it would be critical for us to coordinate very closely with you and our colleagues in south korea going forward. >> we're going to talk more about washington's reaction and what this all means for geouncertainty and our guest hosts for this hour, jared bernstein who works as the chief economist for joe biden. tony is joining us and capital alpha markets managing director chuck gabriel. they're also going to talk state of the union. john harwood sat down with dave ax
vittner, thank you, as well. >>> when we come back, the white house plans to strike back against china's cyber-attacks today. a number of companies discovering that their twitter accounts have been hacked. we'll have the details after this. >>> first, as we head to a break, take a look at yesterday's winners and losers. [ male announcer ] this is not my home. there. i said it. they don't have pictures of my kids. they don't have my yoga mat. and still, i feel at home. could it be the flat screen tv? the not so mini fridge? ♪ the different free dinner almost every weeknight? or maybe, it's all of the above. and all the rest. am i home? nope. but it almost feels that way. homewood suites by hilton. be at home. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. td
to china. you need a china partner to connect all these markets to china to the u.s. and latin america. and this merger won't fix that problem. they're going to figure other ways of doing it. right now, their competitors have an advantage of slowing that traffic and is it's going to be huge. >> i understand there's been some disagreement from both sides as to what the potential benefits would be of this merger with regard to the cost savings and the additional revenues. do you have an estimate on how many it would save? >> you know, all of these mergers have said they're going to save the world, let alone money. in this case, i think you'll see a couple of headquarters, but ov overall, it's end to.end. the real issue is the revenue stream and the increases in revenue streams by putting these airlines together. >> american express membership miles, they work on us airways, don't work on american. what will happen? >> i don't know. they better be or i'll be ticked. >> it's a generous people. >> there's a lot of people in the audience who want to know the same thing. that's frankly all i
is in the tank and china has been an issue for cisco which i think will pick up in the second half of the year. the u.s. did very well this quarter. >> hmmm. sometimes it doesn't help that much to look at the last quarter. but what did you see there in term of trends that can tell us about the future? margins, other port metrics in that. any surprises there? >> very good margin performance. so the tech environment right now is horrible. especially i.t. spending. >> it is. >> yes. >> horrible. >> it's horrible. most of the companies saw much weaker than normal december quarters. i think we cut numbers in 60% of our companies for the march quarter. now, cisco guided to 4% to 6% growth for the april quarter. that's slightly ahead of what we were modeling. so we raised our numbers this morning, raised our price target to 26 from 23. and, you know, stock trades at about just over seven times cash, 2-6 dividend yield. >> have you ever seen chambers miss after he's guided somewhere or does he always -- usually we hear from him that things aren't going great before it actually happens so we know it's
.e.c. filings that they have expanded those investigations beyond just mexico and to brazil, china and india. >> you know, this is going to be a fascinating story today. we heard about these leaked memos. walmart knocking it down saying things were taken out of context. i saw something overnight from the nrf, national retail federation where they said something like six out of ten americans say their savings and their budgeting has been somewhat or greatly impacted by the changes in the taxes that kicked in at the beginning of the year. >> and i think it's interesting because i think the january same-store sales were probably misleading. it takes a can couple paycheck cycles to see what the impact would be. >> right. >> gasoline prices up 45 cents in a month, that's a lot if you're working on a constrained budget. >> it's going to be a big deal. walmart is more than 10% of overall retail sales in the united states, too. what we hear today for these guys really matters. >> it really matters. >> and now, are you on my side yet? to offset this weakness, we could use growth in some of these deve
of students and factory workers f cross china. is says the move reflects a significant shift in how electronics companies view problematic labor practices in china. apple, of course, has come under scrutiny for its practices there. let's get to joe back from pebble beach. joe. >> hey, andrew. you can't be on the coast, obviously, especially in this area without talking about innovation and advancements in technology. shawn carolan is a managing director at menlow adventures. andrew is going to want to stay involved here because he knows this disrupter. >> ow viewers might know. but you can tell me basically that the things that you're investing in, whatever you want to say they do, i'll just go, ow. if you tell me you have contact lenses that you can do mental telepathy and -- >> are you investing in anything like that? no. so siri, how did -- i can't even imagine that a company would come up with that, but you decided that was something that made sense to invest in. >> you absolutely. it's one of those things that it's so ubl that at some point technology will get to a point where
and uncertainty, as well. so there are still things that china has of landing. it's definitely a soft landing and the brics generally are doing well. >> would you say people that want to exit the union are kind of similar to -- >> when you say exit the union, you have to be very careful whether you're talking about the uk and scotland or -- >> no. i'm talking about the european union. are they protected -- you might be looking at this big picture long-term you want to be there because -- >> i want to be there because it's 450 million people. >> that's what i mean. it's like free trade. >> gdp. >> but then i look at the hard working people in the uk which have already been -- you know, they've had to deal with austerity and you look at some of the southern european -- they still live high off the hog. >> that's the point, joe, is that by the time we get to the referendum, western europe will have started to recover. >> southern europe, even? >> southern europe. they're structural and about competitiveness, but there are things that were cyclical. it was interesting. if you listen to the people
, 1666. okay. . and global news, average home prices in china's 100 biggest cities was 1% in january from december. and it marks the eighth consecutive marketing rise. two other surveys show growth was weak and the economists caution the country could set a tradeback if trade or government weaken. >> we're here for a lot of reasons, but one thing we need to talk about for an advertising, guys, is there anything better to tuz on than the super bowl? >> no. and it's gotten more important. ite become the academy awards of advertising. first of all, viewership is up. about 111 million people will watch it. crisis is up more than 7%. >> more people watch the laugh time or the gain 12347. >> yes. >> i always thought that was when everybody went to the bathroom. >>. >> you go to the kitchen, you get a drink, you do all sorts of things during halftime. >> $3.75 million for a 30-second spot. people have paid over $4 million. price of ads is up 60% over the last decade. they're also sold out almost a half a billion dollars of ads spend for this super bowl. there will be about 78 advertisers. and i
domestically? >> we could have a long discussion about asia. there's a lot of controversy about how china is and what is the underlying strength of china. >> housing comes back here, better but doing better on a lot of fronts but we need trading partners. >> we need consumption of emerging markets to pick up. >> it won't be europe. >> we need asia and latin america. we need those guys to pick up. these things are all linked. if china doesn't pick up more meaningfully, there's the spillover back to brazil, spi spillover to all, spillover to commodity exporters relying on china. it is -- you know, it's interesting all of them have been revising global growth down not up. >> in italy, i feel bad for the italian people, their wealthy has not increased and losing pace with the rest of the world. it doesn't matter to me italy hasn't grown the last 20 years. it didn't need to grow. a perfect place. >> it's a good place and political dysfunction is something that's been around 60, 70 years. the pasta is still good. >> not quite as rich but looking out at the most beautif beautiful -- right, your
in china, so the automakers now how to make -- >> we're going to run out of time, john. gives a website where people who want to look into this can go. >> usesc.org. >> okay. >> i'm watching the weekly data on oil production in the united states. it's up a million barrel a day in the last week. if we sit back and let the energy sector do what they're doing, isn't that going to solve a lot of the problem? >> it depends on which year. oil is will go wherever people are going to buy it and we could end up exporting oil from this country which doesn't help the consumer. that's why i'm advocating competition for fuel. >> are you advocating not exporting our energy? >> no, no, i think that -- you know, it should be an open free market, but competition for oil could be a changer. >> coming up, the most watched and rewatched ads from the super bowl, coming up next. ♪ ♪ ♪ ♪ ♪ [ male announcer ] concept. calvin klein underwear. 360 seamless technology. we all work remotely so this is a big deal, our first full team gathering! i wanted to call on a few people. ashley, ashley marshall...
something, keith -- >> i'll look it up. >> shows china's manufacturing activity has declined to a four-month low in february. export orders decreased and output grew at a slower rate. forecasters say it's a reminder to china's shaky economic recovery. in the u.s., polled economists say likely government budget cuts and the prospect for messty political fights over fiscal policy is going to slice into gdp, a survey by the national association of business economics finds more than half of those polled believe fiscal uncertainty will project and nearly one-third beginning to retract from half a point to a full point. and the average price of gasoline rose 20 cents in the last two weeks to $3.79 a gallon and that's just for regular prices. they're now up 54 cents in the last nine weeks. but widely followed industry analyst lundberg says the two-month upward trend in pump prices may be about to end. >> no kidding. >> and you wonder how does she know? because she does seem to know. >> but oil prices fell to like 93 bucks. >> but sometimes that doesn't matter because of gas prices and you kno
still play-doh in china is still something you -- >> oh, yeah. if you look at the brands like a brand like my little pony. we've done a joint venture with discovery. we have the hub kids tv network. so my little pony is not only on the air in the united states, it's on the air in 10 countries around the world. there's a digital game so the kids can play, a mobile game with a game lock game from hasbro. >> is this my little pony right here? >> the biggest my little pony i've ever seen. >> got a little pony. >> razz-a-roo, they were all very small. >> this happens to be a big one. >> it's got a paul krugman unicorn. because i've called him a unicorn in the miest way. i didn't know if people like him existed anymore. >> this is a whole new theme about the crystal empire. >> unicorns do exist. >> and they have wings and they fly, too. >> this is first class -- >> this is a great example. my little pony is a great example. brand that was in the 80s, brought back, reinvented across all these different platforms. it's clear that kids want all those kinds of experiences where they go across a
market. and you know, across the world, as he was saying, india, demand is down 17%. china is flat. now check this stat out. this is amazing. people talk about central banks buying it, right? last eight quarters, central banks have been buying. guess what? they're in a losing position. if you take the central banks trade, you're out of your mind. and gordon brown sold what, 390 metric tons of gold at $252 bucks. so bottom line is that, to me, yeah, we're still going low. >> all right. yeah. i would basically take the other side of everything gordon brown did. >> i don't know how he ever -- >> wouldn't you? >> he was like -- i don't know where -- you know. he's like a poster child for bad decisions. i know -- >> he came back, it's amazing. >> i guess he won't be, you're trying to get him on the show, right? why you would -- it's like booking jimmy carter to talk about how to fix the country right now. we don't need -- anyway. boris. >> yes? >> my man. >> by the way -- top are calling that drop in gold, called it a couple weeks ago. >> that's what i was saying. as far as you go, currency,
for this currency pair which hasn't been as weak as people expected given the weakness in china over the last six months. again, signs of some weakness in australia's domestic economy. retail sales disappointing. the rabb could cut rates -- rba could cut rates. for a second, i'll go to sterling. up .1%. 156.55. you know how much people are watching, mark carney taking the helmet. the bank of england from a policy point of view. if he doesn't deliver on the stimulative measures, taking a more dovish stand, this could really take providence. other ways, if he does, this -- otherwise, if he does, this could go to 1.50. i'm trying ton root for that given my structural long dollar position. in trade today, european stocks are generally weaker. the euro/down down to 1.3537. despite the strength in the equity session, not fully carrying through on this side of the pond. >>. >> you're rooting for kareny to take stimulative actions which would reduce the value of the pound relative to the dollar and increase your buying power and structured long tradition. >> i'm trying not to take a strong position. >> y
with ink from chase. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ >>> good morning. welcome back to "squawk box" here cnbc. i'm joe kernen along with becky quick and andrew ross sorkin. u.s. equity futures up, pretty solid session yesterday. we didn't earmark know it was going to be. backup 50 points. we're only 1% of the way from a new high for the dow jones. our guest host this hour, westwood capital's len blum. in the next hour, famed noftor and billionaire real state tycoon sam zell. after the state of the union, he'll have comments i'm sure. plus, top-ranked money manager don yacthman, funds seeing 10% over the past
in china. lower commercial aircraft r&d and recovering after. >> jason trennert, looks like there's a fair amount of bid for higher defense spending outside the united states. are there any companies within -- any defense companies in the u.s. that, let's say, would help japan or help other countries that may be seeking to increase their defense spending? >> well, yes. certainly, you know, saudi is buying a lot of weapons systems. you know, it's a plus for various companies, for example, in boeing's case, 41% of their defense backlog is foreign. it's going to rise. 28% of their defense sales. so it's definitely an offset to the headwinds of what's happening here in the u.s. >> okay. we're going to leave it there. thank you. appreciate it very much. >> terrific. thank you. >> coming up, steny hoyer, house minority whip, former leader. what it will take to avoid billions in spending cuts. ready to take effect this week. that interview is next, right here on "squawk box." (music throughout) why turbo? trust us. it's just better to be in front. the sonata turbo. from hyundai. bjorn earns unlim
Search Results 0 to 17 of about 18